#Taxation of #Cryptocurrencies in #Australia|Tax Dosti|#Pakistan Should #legalize #Cryptocurrencies

In this Video|We learn how Australian Tax Authority is taxing cryptocurrencies.

Visit ATO Here|https://www.ato.gov.au/general/gen/tax-treatment-of-crypto-currencies-in-australia—specifically-bitcoin/

Tax treatment of cryptocurrencies

The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on a blockchain. Cryptocurrency generally operates independently of a central bank, central authority or government.

The creation, trade and use of cryptocurrency is rapidly evolving. This information is our current view of the income tax implications of common transactions involving cryptocurrency. Any reference to ‘cryptocurrency’ in this guidance refers to Bitcoin, or other crypto or digital currencies that have similar characteristics as Bitcoin.

If you are involved in acquiring or disposing of cryptocurrency, you need to be aware of the tax consequences. These vary depending on the nature of your circumstances.

Everybody involved in acquiring or disposing of cryptocurrency needs to keep records in relation to their cryptocurrency transactions.

If you have dealt with a foreign exchange or cryptocurrency there may also be taxation consequences for your transactions in the foreign country.

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An informative talk on video by Mr. Anthony Williams, CEO of TaxDosti, Pakistan, expecially for Tech Startups in Pakistan.
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TaxDosti is a two-way dialog, forum for Taxpayer Rights, deserved by honest Tax paying citizens.

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TaxDosti offers legal services related to smart e-filing, smart tax planning, creating awareness of vital concepts, related to personal “Financial Literacy”, personal “Financial Fragility”.

Mr. Williams brings with him over 20 years of experience in various business sections, with key expertise regarding income tax, wealth tax, sales tax, service tax, federal tax, taxation history, litigation, AI, Startup Incubator, author of news publications and articles.

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